European Economic Area

Knowledge Identifier: &European_Economic_Area

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European Economic Area

Area that comprises the member states of the European Unionadd

Category: Economy

Founded in 2004.

Countries: Norway (26%), Europe (15%), Iceland (11%)

Main connections: European Union, Iceland, European Commission

Linked to: European Free Trade Association, Council of the European Union, European Free Trade Association Surveillance Authority, Court of Justice of the European Union

 

Timeline


 

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2004

The EEA and Norway Grants were established in conjunction with the 2004 enlargement of the European Economic Area , which brings together the EU, Iceland, Liechtenstein and Norway in the Internal Market add something

 

On the other hand, the EEA Agreement was applied on a provisional basis to the 10 acceding countries in May 2004 as from the date of their accession to the EU. add something

 

Amrut Distilleries - The whisky, under the brand name Amrut Single Malt Whisky, made its official debut in the European market on 24 August 2004 at Café India, a restaurant in Glasgow


2007

By comparison, following the 2007 enlargement of the EU which saw Bulgaria and Romania acceding to the EU on 1 January 2007,an EEA Enlargement Agreement was not signed until 25 July 2007 and only provisionally entered into force on 1 August 2007 add something


2009

Albania applied for membership in April 2009, but the European Commission has yet to respond add something


2010

According to Eurostat, Croatia has a stable market economy and its GDP per capita in 2010 was 61 per cent of the EU average, exceeding that of four other EU member states add something


2011

As EEA membership is currently only open to EFTA or EU members, the consent of existing EFTA member states is required for the microstates to join the EEA without becoming members of the EU. In 2011, Jonas Gahr Støre, the Foreign Minister of Norway which is an EFTA member state, said that EFTA/EEA membership for the microstates was not the appropriate mechanism for their integration into the internal market due to their different requirements than large countries such as Norway, and suggested that a simplified association would be better suited for them add something

 

EU accession negotiations were concluded on 30 June 2011, and the Treaty of Accession was signed on 9 December 2011 in Brussels add something

 

The agreement did not fully enter into force until 9 November 2011 add something


2012

The Croatian government decided to submit their EEA membership application on 13 September 2012, and negotiations started 15 March 2013 in Brussels, with the aim of achieving simultaneous accession to both the EU and the EEA on 1 July 2013 add something


2013

Accession negotiations are expected to be completed by the autumn of 2013 add something

 

In response, the Council requested that negotiations with the three microstates on further integration continue, and that a report be prepared by the end of 2013 detailing the implications of the two viable alternatives and recommendations on how to proceed add something

 

Aviaplan - Within the European Economic Area in 2013, Oslo Airport ranked as the seventeenth-busiest overall, and the sixth-busiest in domestic traffic

 

On 18 November 2013 the EU Commission concluded that "the participation of the small-sized countries in the EEA is not judged to be a viable option at present due to the political and institutional reasons", and that Association Agreements were a more feasible mechanism to integrate the microstates into the internal market add something

 

Accession negotiations were expected to be completed by the autumn of 2013, and on 20 November 2013 it was announced that an enlargement agreement was reached add something

 

Serbia is starting accession negotiations in December 2013 or January 2014 at the latest add something

 

The text was initialled on 20 December 2013, and will be provisionally implemented once it is formally signed add something


2014

Serbia started accession negotiations in January 2014 add something


2016

Membership has grown to 31 states as of 2016: 28 EU member states, as well as three of the four member states of the EFTA add something

 

Voted in a 2016 referendum to leave the EU. The future status of UK inclusion in the EEA remains unclear add something

 

However, in August 2016 the Norwegian Government expressed reservations add something


2017

Single market - The UK's formal notice to withdraw from the EU in March 2017 indicated that it would not seek to remain a member of the single market add something